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In separate advisories, Shell, Caltex and Seaoil announced upward adjustments of P1.10 per liter for gasoline and P0.40 per liter for diesel and kerosene.
STAR / File
MANILA, Philippines — Motorists should prepare for another round of fuel price hike starting Tuesday, April 1.
Oil companies will raise gasoline prices by P1.40 per liter, and kerosene and diesel prices by P1.20 per liter.
Shell Pilipinas, Seaoil, CleanFuel, Caltex and PetroGazz announced the upward price adjustments in separate advisories on Monday, March 31.
After three consecutive weeks of price rollbacks, fuel prices began rising again last week, with gasoline up by P1.10 per liter and kerosene and diesel rising by P0.40 per liter.
The Department of Energy’s Oil Industry Management Bureau attributed the second round of price hikes to an expected reduction in global oil supply by one million barrels per day, following US sanctions on Iran.
Other factors include ongoing attacks on energy infrastructure by Russia and Ukraine, as well as US threats of tariffs on countries purchasing Venezuelan crude oil.
From March 25 to March 31, the prevailing retail prices of petroleum products in Metro Manila were as follows:
- Gasoline (RON97/100) - P67.15
- Gasoline (RON95) - P58.60
- Gasoline (RON91) - P57.40
- Diesel - P53.90
- Diesel Plus - P56.90
- Kerosene - P70.67
With the price hikes over the past two weeks, gasoline and diesel have increased by P3.25 per liter, while kerosene has decreased by P0.30 per liter.
